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Global Methacrylic Acid (MAA) Market Demand & Forecast Analysis, 2016-2032

Methacrylic Acid Market Overview

The global Methacrylic Acid market size was valued at USD 1.2 billion in 2022 and is projected to cross USD 1.8 billion by 2032 at a CAGR of 4.1% during 2023-2032. The Methacrylic Acid market is poised for strong growth, owing to thriving automotive industry, driven by rising disposable incomes, population growth, and rapid urbanization. Additionally, the increasing demand for lightweight vehicles, prompted by the necessity to curb greenhouse gas emissions, will continue to fuel the demand for Methacrylic Acid within the automotive sector.
Global Methacrylic Acid Demand Supply Analysis 2016-2032 (Kilo Tons)
Methacrylic Acid demand supply 2016-2032
Source: Secondary & Primary Research and Prismane Consulting estimates

Introduction

Methacrylic Acid (MAA) belongs to the family of carboxylic acid, it is a colourless transparent and viscous liquid. Acetone cyanohydrin reacts with sulfuric acid to produce methacrylamide sulfate, which is hydrolysed to produce MAA. Owing to properties such as surface adhesion, toughness, and chemical resistance, MAA is widely used in paints, adhesives, leather treatment, rubber modifier, lubricant additives, cement mixing agents, fibre processing agents, paper processing agents, emulsion polymers, chemical intermediates, and others.

Methacrylic acid is regularly used to produce poly methyl methacrylate which is further used in acrylic paints. Nail primers also use MAA for better adhesion of acrylic nails to nail plate. Growing demand for paints & coatings in automotive and electronics industries is driving the Methacrylic Acid market globally. The rapidly growing automotive industry on the back of growing disposable income, increasing population, and rapid urbanization will drive the Methacrylic Acid market. Moreover, growing demand for lightweight vehicles induced by the need to reduce the emissions of greenhouse gases in the environment will further drive the demand of MAA in the automotive industry. 

Methacrylic Acid Supply Overview

The key players in the global Methacrylic Acid market include BASF, Nippon Shokubai, Kuraray, Mitsubishi Rayon Chemical, PTT Asahi Chemical, Dow Chemical and Wanhua Petrochemical. The global Methacrylic Acid capacity was estimated to be more than 550 kilo tons in 2022. Majority of the capacity is concentrated in Northeast Asia on the back of China which accounted for nearly 36% of the global capacity. Some of the major manufacturers in the country include Zibo Qixiang Tengda Chemical Company with production capacity in Shandong, Roehm in Shanghai, Shandong Houngxu Chemical Co.,Ltd in Shandong and Wanhua Chemical in Yantai. 
Global Methacrylic Acid Demand Analysis, By Application 2016-2032 (Kilo Tons)
Global Methacrylic Acid Demand Analysis, By Application 2016-2032 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Methacrylic Acid Demand Overview

The global Methacrylic Acid market size is estimated to exceed USD 1.8 billion by 2032, up from the current market size of approximately USD 1.2 billion, demonstrating a CAGR of 4.1% from 2023 to 2032. In terms of market volume, the Methacrylic Acid market is projected to surpass 580 kilo tons by 2032, with an average annual growth rate of over 3%. Asia-Pacific accounted for more than 50% of the global Methacrylic Acid demand followed by North America and Western Europe together accounting for more than 40%. North America is the second biggest producer accounting for over 15% of the global Methacrylic Acid capacity in 2022. Dow Chemical is the largest producer of Methacrylic Acid in North America with production capacity of around 81 kilo tons in Deer Park Texas. 

Methacrylic Acid Market Recent Developments

In 2023, Nippon Shokubai Co., Ltd received ISCC Plus certification1 for 19 products which includes acrylic acid, superabsorbent polymers, and ethylene oxide. This will encourage manufacturers to use biomass-derived raw materials for production of disposable diapers, detergents, and other products.

Mitsubishi Chemical Group announced in November 2022 that it may cease operation of methacrylate production facility in Billingham Cassel site, United Kingdom owing to rising price of natural gas induced by Russia-Ukraine war and decreasing demand of acrylics caused due to inflation.

Mitsubishi Chemical Corporation shut down its Beaumont facility producing methyl methacrylate monomer and methacrylic acid in Texas, USA, in February 2021.

Scope of Report 


The Methacrylic Acid report describes the global Methacrylic Acid market, with focus on the country, applications, and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)

•  Demand-Supply Analysis
•  Demand Composition, by Application
•  Capacity
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review

•  Supply Demand Balance 
•  Methacrylic Acid Market data in terms of volume and value for each end-use 
   at regional and country level
•  Methacrylic Acid Market analysis for Production, Capacity, and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population, and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction

      •  Scope
      •  Market Coverage
          -  Applications
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2021
          -  Base - 2022
          -  Forecast Period - 2023 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources

2.  Market Synopsis 

      •  Market Evolution
      •  Demand-Supply Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast

3.  Economic & Energy Outlook

      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices

4.  End-use Sector Performance

      • Construction
      • Paint & Coatings
      • Paper & Textile
      • Health & Personal care
      • Others

5.  Plants & Projects Analysis

      •  Methacrylic Acid Production Capacity, by Company
      •  Methacrylic Acid Production Capacity, by Country and by region
      •  Capacity Overview, By Technology

6.  Introduction to Methacrylic Acid and Market Overview 

      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications

7.  Market Dynamics and Industry Trends 

      •  Market Dynamics 
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges

8.  Global Methacrylic Acid Demand-Supply Analysis, By Application, (Volume, Value) (2016–2032)

      •  Strategic Issues
      •  Demand-Supply Analysis and Forecast (2016 – 2032)
          -  Capacity
          -  Capacity Utilization (%)
          -  Production
          -  Imports
          -  Exports
          -  Net Exports
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Methacrylic Acid Market, By Application 
          -  Paints
          -  Construction Chemicals
          -  Chemical Intermediate
          -  Emulsion polymers
          -  Adhesives
          -  Others

9.  Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)

      •  Strategic Issues
      •  Capacity
      •  Capacity Utilization (%)
      •  Production
      •  Imports
      •  Exports
      •  Net Exports
      •  Demand
      •  Demand Growth Rate (%)
      •  Methacrylic Acid Market, By Application
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand-supply (consumption) split by Application, has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  ASEAN
         -  Rest of Asia-Pacific
      •  Central & South America
         -  Brazil
         -  Rest of CSA
      •  Middle East & Africa
         -  GCC
         -  Iran
         -  South Africa
         -  Rest of MEA
Note: CAGR will be calculated for all the applications to arrive at the regional/global demand growth for the forecast period (2022 – 2032)

10.  Pricing Analysis

      •  Average Methacrylic Acid Prices, USD/Kg
      •  Average Methacrylic Acid Prices, by Country 
      •  Average Methacrylic Acid Prices, by Region
      •  Price Forecast

11.  Key Strategic Issues

12.  Business Opportunity Assessment 

      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study

13.  Strategic Recommendation & Suggestions

14.  Company Analysis and Market Share Analysis

      •  Methacrylic Acid Manufacturers Profiles/ Company Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             -  Röhm GmbH (Evonik)
             -  BASF
             -  Nippon Shokubai
             -  Mitsubishi Gas Chemical
             -  Kuraray
             -  Lucite International
             -  PTT Asahi Chemical
             -  Wanhua Chemical
             -  Shandong Hongxu Chemical Co., Ltd
             -  Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

15.  Appendices

      •  Demand-Supply - Regions
      •  Demand-Supply– Countries
      •  Capacities, 2016-2032

Scope of Report 


The Methacrylic Acid report describes the global Methacrylic Acid market, with focus on the country, applications, and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)

•  Demand-Supply Analysis
•  Demand Composition, by Application
•  Capacity
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review

•  Supply Demand Balance 
•  Methacrylic Acid Market data in terms of volume and value for each end-use 
   at regional and country level
•  Methacrylic Acid Market analysis for Production, Capacity, and Demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population, and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

What is the current market size of Methacrylic Acid?
The global Methacrylic Acid market size was valued at USD 1.2 billion in 2022 and is projected to cross USD 1.8 billion by 2032 at a CAGR of 4.1% during 2023-2032
What is the current global Methacrylic Acid capacity?
The global Methacrylic Acid capacity was estimated to be more than 550 kilo tons in 2022.
Who are some of the major Methacrylic Acid producers?
The key players in the global Methacrylic Acid market include BASF, Nippon Shokubai, Kuraray, Mitsubishi Rayon Chemical, PTT Asahi Chemical, Dow Chemical and Wanhua Petrochemical. Some of the major manufacturers in the country include Zibo Qixiang Tengda Chemical Company with production capacity in Shandong, Roehm in Shanghai, Shandong Houngxu Chemical Co.,Ltd in Shandong and Wanhua Chemical in Yantai.
Which region dominates the global Methacrylic Acid Market?
Asia-Pacific accounted for more than 50% of the global Methacrylic Acid demand followed by North America and Western Europe together accounting for more than 40%